Good/Bad Time (Mahedy & Wilson)

Fiscal policy in good times and bad by Tim Mahedy and Danile J. Wilson published by FRBSF (7/2018). “Thanks in large part to recently enacted tax cuts, U.S. fiscal policy has taken a decidedly procyclical turn – providing stimulus when the economy is growing. In fact, the projected increase in the federal deficit over the next few years would represent the most procyclical fiscal policy stance since the Vietnam War…”

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